HoangTran

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🇬🇧 Reform UK Leader Announces Crypto-Supporting Bill Nigel Farage, leader of Reform UK, has announced plans to push for a Crypto Assets and Digital Finance Bill if victorious in the upcoming general election. – The bill proposes a 10% capital gains tax on crypto – Establishes a Bitcoin reserve fund at the Bank of England – Bans banks from closing accounts due to lawful crypto transactions Farage highlighted that over 7 million Britons own crypto, yet the current government remains detached from this trend. He pledged to bring crypto into the mainstream of UK finance.

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🇨🇳 China Criticizes U.S. for Imposing Unfair Restrictions in the Chip Industry Chinese Embassy spokesperson in the U.S., Liu Pengyu, criticized the U.S. for implementing "discriminatory" export control measures in the semiconductor industry. This follows accusations by the Trump administration that China violated a preliminary trade agreement between the two countries.

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Eric Trump emphasized that everyone worldwide wants to own Bitcoin, from individuals and royalty to major financial institutions. Eric Trump believes the trend of buying Bitcoin is spreading globally, not only in the U.S. but also in the Middle East, Africa, and Asia. Within just 12 months, the number of institutions valuing Bitcoin has surged, with billions of dollars being allocated to this asset daily. Eric also noted that the supply on OTC exchanges is drying up, while demand is skyrocketing. Eric Trump believes that 0.1 BTC will hold immense value in the future and advises people not to worry about not buying a whole BTC, as the system is designed to support fractional purchases.

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Bo Hines (CEO of the President’s Council of Advisors on Digital Assets): – Bitcoin is considered the "gold standard" in the world of digital assets, and the Trump administration has openly regarded Bitcoin as digital gold. – He affirmed: The U.S. wants to own as much Bitcoin as possible and views it as an asset with intrinsic store-of-value, distinct from securities. – This is why the government established the Strategic Bitcoin Reserve (SBR), designed to accumulate BTC without selling. – Hines emphasized that the government is seeking to acquire as much Bitcoin as possible in a budget-neutral manner, as it is an asset that should be “harnessed for the benefit of the American people.” – He concluded firmly: “We will not sell any Bitcoin held by the United States government. Period.”

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The French company 🇫🇷 The Blockchain Group has issued Bitcoin-denominated convertible bonds worth €63.3 million to acquire more Bitcoin. This move could enable the company to purchase up to 590 BTC, increasing its total Bitcoin holdings to approximately 1,437 BTC.

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Although Bitcoin has just reached a new peak and remains in a high price range, enthusiasm from retail investors is almost nonexistent. The reason could be that most people are holding altcoins, and the current price level is not yet attractive enough to draw in a new wave of retail investors. On the institutional side, despite plenty of positive news indicating that more institutions are entering the crypto market, many big names, including UBS and Bank of America, have yet to decide to participate.

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**Trump Administration Prioritizes Stablecoins as They Could Generate $2 Trillion in Demand for U.S. Bonds** **Treasury Secretary**: The Trump administration is prioritizing the development of the digital asset sector, particularly stablecoins. In contrast to the previous administration—which was accused of stifling the industry and pushing companies overseas—the current administration aims to keep these companies in the U.S. The goal is to implement the highest standards for anti-money laundering (AML) in digital assets. The Secretary also stated that, in the short term, stablecoins could generate up to $2 trillion in demand for U.S. Treasury bonds and bills—a massive figure compared to the current level of approximately $300 billion.

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Polygon Co-Founder Mihailo Bjelic Resigns Bjelic wrote on X: “…As projects grow and mature, it’s natural for visions to evolve and sometimes diverge. With this in mind, I can no longer contribute to my fullest at Polygon…” Bjelic will step down from his role at the main blockchain development studio, Polygon Labs, and from the Polygon Foundation board. In 2017, he co-founded Polygon, originally called Matic Network, alongside Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun.

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The folks in Australia 🇦🇺 are still going strong... A survey shows that about one-third of Australians own cryptocurrency, with baby boomers (aged 60–78) being the fastest-growing group. However, many older people stay quiet due to fear of judgment or misunderstanding. According to financial experts, seniors are driven by FOMO and attracted to higher returns compared to traditional markets.

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India 🇮🇳 and the US 🇺🇸 may reach a “framework agreement” for the first phase of a trade deal within the next 7–10 days. The US is expected to impose a 10% tariff on goods from India, though some items may be fully exempt from tariffs. A “framework agreement” is a preliminary agreement where both parties have agreed on key terms but still need to finalize details before the agreement becomes official or legally binding.

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The U.S. Supreme Court has ruled that President Trump has the authority to remove the heads of two independent agencies: the National Labor Relations Board (NLRB) and the Merit Systems Protection Board (MSPB). However, the Federal Reserve remains protected, meaning Chairman Jerome Powell and senior Fed officials cannot be easily dismissed by the president.

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David Sacks stated that the stablecoin bill (GENIOUS Act) is currently receiving strong bipartisan support in the U.S. Congress 🇺🇸. Specifically, at least 15 Democratic Senators have voted in favor of passing the cloture threshold, effectively ending debate and eliminating the possibility of delays. He believes that with such consensus, the bill is almost certain to pass. The primary reason for his confidence in the bill’s passage is the practical benefits stablecoins offer. Stablecoins create a new payment system for the U.S.: faster, cheaper, and more efficient. Beyond optimizing payment infrastructure, they also play a role in reinforcing the global dominance of the U.S. dollar in the digital environment.

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SEC Chairman Paul Atkin: Let’s say it’s a new day at the SEC. I am determined that we will return to the core mission Congress set for the United States over 90 years ago. He pledged to steer the SEC back to its core mission: protecting investors, facilitating capital formation, and maintaining fair, efficient markets. A key focus of his tenure is establishing a clear regulatory framework for crypto assets, including rules on issuance, custody, and trading.

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John Carvalho has proposed BIP-177: renaming “satoshi” to “bitcoin.” Under the proposal, 1 satoshi would equal 1 bitcoin, while the “full” unit remains 1 BTC. Carvalho argues the new naming simplifies decimal confusion, making it easier for newcomers to buy and use. Jack Dorsey supports the proposal, stating the term “sats” discourages spending. Some developers back it, seeing it as a cure for “cheap coin syndrome.” However, many Bitcoiners oppose it, arguing the rename could confuse the fixed 21 million BTC supply and diminish Satoshi Nakamoto’s legacy. Carvalho clarifies it’s only a naming change, not affecting supply, and the proposal needs community consideration with no final decision yet.

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U.S. Treasury Secretary Scott Bessent stated that the U.S. does not seek complete decoupling from China. On the contrary, President Trump aims to open the Chinese market for business. However, during the COVID pandemic, the U.S. recognized shortages of critical strategic products such as pharmaceuticals, semiconductors, steel, and more. Therefore, the medium- and long-term goal is to bring these strategic industries back to the U.S. as soon as possible. Nevertheless, the U.S. will maintain trade with China, particularly for goods supporting small businesses, with lower tariffs.

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President Trump announced that the U.S. will soon update tariff levels for trading partners, explaining that his administration cannot negotiate trade agreements with all countries simultaneously due to capacity constraints. He emphasized that the U.S. will adopt a fair approach but noted that too many global leaders currently want to meet with U.S. officials. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick will send letters to countries outlining the tariffs they must pay to do business in the U.S. The U.S. is likely to negotiate only with its top 10 trading partners, while others will face a uniform tariff rate.

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Jim Chanos said he is implementing a strategy to short MicroStrategy stock while buying Bitcoin, a trade based on the arbitrage between the stock price and the company’s net asset value (NAV). Chanos emphasized that he isn’t predicting Bitcoin’s price direction—whether it goes to $10,000, $100,000, or $1 million—since no one knows for sure. However, he believes selling $1 to gain $2.5 or $3 is a profitable strategy. He warned that MicroStrategy and copycat companies are exploiting this model to raise capital from retail investors, assuming that buying Bitcoin within a corporate structure justifies a higher stock valuation. He considers this logic “absurd.” He views the premium (the gap between stock price and NAV) as a barometer of market speculation, particularly among retail investors. When the premium spikes, as seen in late 2024 or during recent market volatility, it reflects heightened speculative fervor.

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Fidelity, a financial company managing $4.9 trillion, asks: If Bitcoin has averaged a 65% annual return over the past five years, are companies utilizing cash flows more effectively than Bitcoin? If not, instead of holding cash or making inefficient investments, holding Bitcoin could be a better way to create value for shareholders.

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American Bitcoin, backed by Eric Trump and Donald Trump Jr., will list on Nasdaq through a stock merger with Gryphon Digital Mining. Following the deal, current shareholders, including the Trump brothers and crypto mining company Hut 8, will retain 98% ownership of the new entity.

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